Gold Flora Corp (GRAM)

[kahlua]

The company prospectus appendices contain all Q3 financials - Caliva, LCV, Sisu and a couple additional subsidiaries. Q4 are not out yet.

They have a ton of capital, so they have time to fix the massive cash burn issue,while they plan to amalgamate to maximum efficiency. I get the potential but to underestimate what an undertaking it is to pull this off is not looking at reality. Michael is a good spokesperson for the company but frankly every interview he did he was lobbed a lot of easy pitches. Of all the interviews no one asked about the terrible operational efficiency or historic return on capital of each of these businesses and no one asked just how challenging they expect it to be to cobble all these organizations together and get them all working efficiently from the same playbook. 2021 is not about the topline for this company. For me it’s about the opex.

There is a lot of money coming back into the sector. If msos and other funds decides to make this a larger position the shares could go on a run. Speculative buy is the best way to view this one as they prove themselves, which is why I like the idea of playing the warrants if they come down further. They are still too expensive. All imo.